Lame Duck Tuesday, page-35

as true as what you are in your comment, it doesn't explain market psychology in a way that BASE is saying. Historically in bull/bear markets, through highs and lows the power of market psychology is almost unexplained, at least to my knowledge.

the role of market psych does play a role in events like this, and @BASE1864 what you could look at is social proofing and herd mentality. A majority of people don't know what just happened for the market to be down 7+% in 2 days, to my knowledge i doubt anyone can put their finger on it. yet, what you see now is a large number of people uncertain and stranded with their money tied up, then they become influenced by the professionals who are executing sales across the world markets and follow suit. I just don't believe it as simple as running with the herd, there has to be more going into millions of peoples heads than just following suit